Petrobras Reported in ETH Pursuit

Petrobras Reported in ETH Pursuit

December 13, 2010

Petrobras has made an offer of about BRL3bn for 40% of ethanol producer ETH in an effort to become a leader in biofuels, says Reuters, which cites a report in Folha de Sao Paulo. It adds that Petrobras' biofuels arm, Petrobras Biocombustivel, says it is not in talks with ETH, a unit of infrastructure firm Odebrecht.